Dalmia Bharat adopts Shah Jahan’s Red Fort thanks to Modi govt

Agencies
April 29, 2018

New Delhi: In a shocking move, the Prime Minister Narendra Modi led NDA government at the Centre has given the Red Fort, a 17th century monument built by Shah Jahan to 77-year-old Dalmia Bharat group for adaptation in a contract worth Rs 25 crore spanning five years.

The Dalmia Bharat group won the contract by beating IndiGo Airlines and the GMR group in the race to bag one of the most prestigious contracts under the Indian government's ‘Adopt A Heritage’ scheme.

As per the agreement, the corporate giant would build basic infrastructure around the monument and maintain it.

Meanwhile, the government has dismissed opposition allegations that it is trying to "privatise" India's heritage, saying that the contract signed with Dalmia Bharat Group giving it access to the Red Fort does not entail any profit-making activity.

"No profit activity will take place," Union minister Mahesh Sharma clarified on Saturday. He said that Dalmia Group has been assigned the task of adding value to the services being provided to tourists visiting the historic monument.

"The President announced a scheme on World Tourism Day 2017 that those interested in value addition to any services of monuments can come forward. Some services of Red Fort have been given to the Dalmia Group," Sharma was quoted as saying by a news agency

Opposition questions

The Congress party on Saturday questioned the government's move to "lease out" the Mughal-era monument to a private entity.

In a question on Twitter, the Congress asked, "After handing over the Red Fort to the Dalmia group, which is the next distinguished location that the BJP government will lease out to a private entity? Parliament? Lok Kalyan Marg? Supreme Court? Or All of the above?"

"They are handing over the iconic monument to a private business. What is your commitment to the idea of India, to the history of India? We know you have no commitment, but we still want to ask you," Congress spokesperson Pawan Khera told reporters.

"Do you have dearth of funds. Why funds for the ASI (Archaeological Survey of India) lapse, why do they lapse. See the CAG (Comptroller and Auditor General) reports. If they have paucity of funds, then why do they lapse?" he asked.

Calling the decision a "sad and dark day in (India's) history", TMC chief Mamata Banerjee asked why the government itself cannot take care of the monument.

"Why can’t the Government even take care of our historic Lal Qila? Red Fort is a symbol of our nation. It is where India’s flag is hoisted on Independence Day. Why should it be leased out ? Sad and dark day in our history," Banerjee tweeted.

TMC MP Derek O'Brien also took to Twitter to question the move. "Wah! So here is acche din. Red Fort being 'sold '? Now other national treasures ready to be auctioned to highest bidder. As Chairman Parliament Cmtee of Transport Tourism & Culture, can say matter was still being "discussed". Pledge to stop this," he wrote.

CPM reminded the Government that the Parliamentary Committee that went into the issue of handing over heritage sites to private entities had "decided against this unanimously".
The Left party in a statement said the government "virtually handed over the Red Fort to the Dalmia group". It urged the Government to rescind its decision.

Responding to opposition remarks, minister of state for tourism KJ Alphons said under the scheme started last year, the ministry is looking at public participation to develop heritage monuments.

"The companies involved in these projects will only spend and not make money. They will create amenities such as toilets, provide drinking water for the tourists so that their footfalls increase. They might put up signs outside to say that they have developed the amenities. If they are spending money, there is nothing wrong in taking credit for it," he said.

"I want to ask the Congress what they did for the past 70 years. All the monuments and facilities around them are in terrible shape. In some places, there were no facilities at all," he said.

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News Network
January 27,2020

Jan 27: Bidders for Air India Ltd. will need to absorb $3.26 billion of its debt, as Prime Minister Narendra Modi’s administration tries once again to sell the national carrier.

The entire company will be sold but effective control needs to stay with Indian nationals, according to preliminary terms published Monday. Bids are invited by March 17 with Ernst & Young LLP India as transaction adviser.

Air India, which started in 1932 as a mail carrier before winning commercial popularity, saw its fortunes fade with the emergence of cutthroat low-cost competition. The state-run airline has been unprofitable for over a decade and is saddled with more than $8 billion in debt.

Indian regulations allow a foreign airline to buy as much as 49% of a local carrier, while overseas investors other than airlines can buy an entire carrier. The government didn’t find a single bidder when it tried to sell Air India in 2018.

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Agencies
March 6,2020

New Delhi, Mar 6: After Yes Bank was placed under moratorium, digital payments were impacted as PhonePe, which depends on the cash-strapped lender for its transactions, could not operate.

It can be noted that the bank's own net banking facilities have not been operational since last evening. Other fintech operators who rely on Yes Bank to settle their transactions are also down.  “We sincerely regret the long outage. Our partner bank (Yes Bank) was placed under moratorium by RBI. Entire team's been working all night to get services back up asap (as soon as possible),” the app's chief executive Sameer Nigam tweeted early in the morning.

PhonePe, one of the country's largest digital payment platforms, is dependent on Yes Bank to process its transactions.

He added that the app hopes to be live in a “few hours”.

Yes Bank placed under a moratorium Thursday evening, with the RBI capping deposit withdrawals at Rs 50,000 per account for a month and superseding its board.

Yes Bank will not be able to grant or renew any loan or advance, make any investment, incur any liability or agree to disburse any payment.

For the next month, Yes Bank will led by the RBI-appointed administrator Prashant Kumar, an ex-chief financial officer of SBI.

He added that the app - one of the most popular interfaces for UPI transactions - hopes to be live in a “few hours”.

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News Network
June 30,2020

New Delhi, Jun 30: Amid calls for boycotting Chinese products after India-China face-off in eastern Ladakh, Congress leader Rahul Gandhi on Tuesday hit out at Prime Minister Narendra Modi-led government claiming that imports from China have increased under the NDA regime.

"Facts don't lie. BJP says: Make in India. BJP does: Buy from China," Gandhi tweeted along with a graphic of the percentage of imports from China during the UPA rule and the NDA government.

The graphic claims that imports from China were at 12-13 per cent when the Congress-led UPA government vacated office in 2014 but now stood at 17-18 per cent in 2020.

The Congress leader has been vehemently targeting the Centre on the India-China border situation after 20 Indian soldiers were killed in violent face-off with Chinese troops in Ladakh's Galwan valley earlier this month.

Indian intercepts have revealed that the Chinese side suffered 43 casualties, including dead and seriously injured, in the face-off.

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